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- EUR/USD is testing MA (200) H1
EUR/USD is testing MA (200) H1
Today, the EUR/USD pair is trading in the range of 1.0510-50 and on the hourly chart it is testing the MA (200) H1 (1.0520) moving average line, but on the four-hour chart it remains below MA (200) H4 (1.0675). Technically speaking, the 1.0550 resistance is keeping EUR/USD from rising for now. If this level is passed, the pair may rise to 1.0610. The lower bound of 1.0425 represents a strong support level. The most likely range of the pair's movement for today may be hidden within the existing range of 1.0460-1.0550
⦁ Resistance levels are: 1.0550, 1.0600-10, 1.0665
⦁ Support levels are: 1.0460, 1.0425, 1.0335
The main scenario for the pair's promotion assumes a breakout of support at 1.0460 (Dec 2 low), a decline to 1.0425 (Nov 26 low) and then, maybe, to 1.0335 (Nov 22 low).
An alternative scenario implies a breakout of the session high of 1.0550 and may be an increase to 1.0600-10 (Nov 15-20 and 29 highs)
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